{"id":87,"date":"2015-05-15T04:32:30","date_gmt":"2015-05-15T04:32:30","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterybusinesslaw1x6xmaster\/?post_type=chapter&#038;p=87"},"modified":"2017-01-09T19:42:54","modified_gmt":"2017-01-09T19:42:54","slug":"why-it-matters","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/chapter\/why-it-matters\/","title":{"raw":"Why It Matters","rendered":"Why It Matters"},"content":{"raw":"<h2>Why understand the application of law to business decisions?<\/h2>\r\n<h3>INTRODUCTION<\/h3>\r\nWhat YOU\u00a0learn here in this course, will make or break YOUR\u00a0future business! \u00a0The law not only influences every business decision, it affects the outcome of every business decision. Simply put, if you learn to better understand and apply the law to your future business decisions, you will make better (and more profitable) business decisions.\r\n\r\nJust imagine the possibilities--your very own business... \"Bilbo\u2019s Biking Adventures,\" or \"Gandalf\u2019s Magical Castle Tours,\" \"Elrond's Devilishly Good Wafers,\" \u201dSauron\u2019s Red Hot BBQ,\" etc. Imagine the success and the pride of accomplishment, the creative thrills , the profits, the $$$, and...POOF!\r\n\r\nWE NOW INTERRUPT THIS FLIGHT OF IMAGINATION TO ALSO INTRODUCE... \"REALITY,\" complete with the possibilities of problems and failure,\u00a0difficult moral questions, unpleasant disputes, and even threatening lawsuits. To taste and sustain the fruits of success in business and to avoid the bitterness of failure you need more than a dream, creative abilities, and marketing skills\u2014you need to know \u201cThe Law\u201d.\r\n\r\nSpecifically in this beginning of the course, you will be introduced to the basics of how and why the law is inseparably connected to the operation of a business in each of the learning outcomes. \u00a0Each of the basic and introductory learning outcomes should be considered as general and basic questions to be answered in the material ahead:\r\n<ul>\r\n\t<li>\u201cThink like a lawyer does about the law?\u201d\u2014Just how does a lawyer actually do that? And for beginners like me, what basically is \"the law\" anyway?<\/li>\r\n\t<li>What are the basic sources of law?<\/li>\r\n\t<li>Are there theories of just where all of this law comes from?<\/li>\r\n\t<li>What are the real sources of law for me, the ones I can look up?<\/li>\r\n\t<li>Will I really learn how to read and understand all of the legal gobblygook?<\/li>\r\n\t<li>Can I actually learn how the court applies the law to business disputes?<\/li>\r\n\t<li>Is there more to guide business decisions than just the pursuit of profits? \u00a0What, if any, is the role of the law concerning ethical decisions?<\/li>\r\n\t<li>Are there theories on making ethical decisions? If so, what are they about?<\/li>\r\n\t<li>Are there models or helpful processes I can earn to help me in making ethical and moral decisions? If so, what are they?<\/li>\r\n<\/ul>\r\n<strong>So... let\u2019s get down to business!<\/strong>\r\n<h3>LEARNING OUTCOMES<\/h3>\r\n<ul>\r\n\t<li>Understand and describe how a lawyer looks at a business decision<\/li>\r\n\t<li>Understand, explain and distinguish between\u00a0different sources and types of law<\/li>\r\n\t<li>Identify, explain and distinguish between different theories of law<\/li>\r\n\t<li>Identify and\u00a0explain the sources of law<\/li>\r\n\t<li>Apply sources to develop potential solutions to the problem(s) or issue(s)<\/li>\r\n\t<li>Identify, describe and distinguish between lawsuits and alternative dispute resolution methods<\/li>\r\n\t<li>Consider and understand the need and value of ethics in business decisions.<\/li>\r\n\t<li>Identify, understand and distinguish between alternative theories on ethics<\/li>\r\n<\/ul>","rendered":"<h2>Why understand the application of law to business decisions?<\/h2>\n<h3>INTRODUCTION<\/h3>\n<p>What YOU\u00a0learn here in this course, will make or break YOUR\u00a0future business! \u00a0The law not only influences every business decision, it affects the outcome of every business decision. Simply put, if you learn to better understand and apply the law to your future business decisions, you will make better (and more profitable) business decisions.<\/p>\n<p>Just imagine the possibilities&#8211;your very own business&#8230; &#8220;Bilbo\u2019s Biking Adventures,&#8221; or &#8220;Gandalf\u2019s Magical Castle Tours,&#8221; &#8220;Elrond&#8217;s Devilishly Good Wafers,&#8221; \u201dSauron\u2019s Red Hot BBQ,&#8221; etc. Imagine the success and the pride of accomplishment, the creative thrills , the profits, the $$$, and&#8230;POOF!<\/p>\n<p>WE NOW INTERRUPT THIS FLIGHT OF IMAGINATION TO ALSO INTRODUCE&#8230; &#8220;REALITY,&#8221; complete with the possibilities of problems and failure,\u00a0difficult moral questions, unpleasant disputes, and even threatening lawsuits. To taste and sustain the fruits of success in business and to avoid the bitterness of failure you need more than a dream, creative abilities, and marketing skills\u2014you need to know \u201cThe Law\u201d.<\/p>\n<p>Specifically in this beginning of the course, you will be introduced to the basics of how and why the law is inseparably connected to the operation of a business in each of the learning outcomes. \u00a0Each of the basic and introductory learning outcomes should be considered as general and basic questions to be answered in the material ahead:<\/p>\n<ul>\n<li>\u201cThink like a lawyer does about the law?\u201d\u2014Just how does a lawyer actually do that? And for beginners like me, what basically is &#8220;the law&#8221; anyway?<\/li>\n<li>What are the basic sources of law?<\/li>\n<li>Are there theories of just where all of this law comes from?<\/li>\n<li>What are the real sources of law for me, the ones I can look up?<\/li>\n<li>Will I really learn how to read and understand all of the legal gobblygook?<\/li>\n<li>Can I actually learn how the court applies the law to business disputes?<\/li>\n<li>Is there more to guide business decisions than just the pursuit of profits? \u00a0What, if any, is the role of the law concerning ethical decisions?<\/li>\n<li>Are there theories on making ethical decisions? If so, what are they about?<\/li>\n<li>Are there models or helpful processes I can earn to help me in making ethical and moral decisions? If so, what are they?<\/li>\n<\/ul>\n<p><strong>So&#8230; let\u2019s get down to business!<\/strong><\/p>\n<h3>LEARNING OUTCOMES<\/h3>\n<ul>\n<li>Understand and describe how a lawyer looks at a business decision<\/li>\n<li>Understand, explain and distinguish between\u00a0different sources and types of law<\/li>\n<li>Identify, explain and distinguish between different theories of law<\/li>\n<li>Identify and\u00a0explain the sources of law<\/li>\n<li>Apply sources to develop potential solutions to the problem(s) or issue(s)<\/li>\n<li>Identify, describe and distinguish between lawsuits and alternative dispute resolution methods<\/li>\n<li>Consider and understand the need and value of ethics in business decisions.<\/li>\n<li>Identify, understand and distinguish between alternative theories on ethics<\/li>\n<\/ul>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-87\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Allen Jorgensen and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":74,"menu_order":1,"template":"","meta":{"_candela_citation":"[{\"type\":\"cc\",\"description\":\"\",\"author\":\"Allen Jorgensen and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-87","chapter","type-chapter","status-publish","hentry"],"part":77,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/pressbooks\/v2\/chapters\/87","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/wp\/v2\/users\/74"}],"version-history":[{"count":7,"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/pressbooks\/v2\/chapters\/87\/revisions"}],"predecessor-version":[{"id":1311,"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/pressbooks\/v2\/chapters\/87\/revisions\/1311"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/pressbooks\/v2\/parts\/77"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/pressbooks\/v2\/chapters\/87\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/wp\/v2\/media?parent=87"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/pressbooks\/v2\/chapter-type?post=87"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/wp\/v2\/contributor?post=87"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/montgomerycollege-masterybusinesslaw2\/wp-json\/wp\/v2\/license?post=87"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}